Peoples Bancorp (NASDAQ:PEBO) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Peoples Bancorp Inc. (NASDAQ:PEBO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $31.56 and traded as high as $34.36. Peoples Bancorp shares last traded at $34.14, with a volume of 155,798 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEBO. Weiss Ratings upgraded Peoples Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. DA Davidson raised their target price on Peoples Bancorp from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Hovde Group raised their target price on Peoples Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, April 22nd. Finally, Piper Sandler raised their target price on Peoples Bancorp from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Peoples Bancorp Stock Up 1.0%

The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.94 and a beta of 0.63. The firm has a 50-day moving average of $33.06 and a two-hundred day moving average of $31.56.

Peoples Bancorp (NASDAQ:PEBO) last posted its quarterly earnings data on Tuesday, April 21st. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.02. Peoples Bancorp had a return on equity of 9.75% and a net margin of 17.92%.The business had revenue of $119.33 million during the quarter, compared to analysts’ expectations of $118.72 million. As a group, sell-side analysts predict that Peoples Bancorp Inc. will post 3.41 earnings per share for the current fiscal year.

Peoples Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 18th. Investors of record on Monday, May 4th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.68 annualized dividend and a dividend yield of 4.9%. This is a boost from Peoples Bancorp’s previous quarterly dividend of $0.41. Peoples Bancorp’s payout ratio is presently 53.85%.

Insider Buying and Selling

In related news, Director Carol A. Schneeberger sold 1,895 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $31.37, for a total transaction of $59,446.15. Following the completion of the transaction, the director owned 19,309 shares of the company’s stock, valued at approximately $605,723.33. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight Eric Smith acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $34.51 per share, with a total value of $34,510.00. Following the transaction, the director directly owned 9,256 shares in the company, valued at $319,424.56. The trade was a 12.11% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 4,881 shares of company stock valued at $156,792. Insiders own 3.31% of the company’s stock.

Hedge Funds Weigh In On Peoples Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Peoples Bancorp by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 2,080,137 shares of the bank’s stock valued at $62,467,000 after acquiring an additional 48,166 shares during the period. American Century Companies Inc. increased its stake in Peoples Bancorp by 8.2% during the third quarter. American Century Companies Inc. now owns 990,923 shares of the bank’s stock valued at $29,718,000 after acquiring an additional 75,231 shares during the period. Geode Capital Management LLC increased its stake in Peoples Bancorp by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 877,629 shares of the bank’s stock valued at $26,360,000 after acquiring an additional 3,427 shares during the period. Millennium Management LLC increased its stake in Peoples Bancorp by 18.1% during the fourth quarter. Millennium Management LLC now owns 472,456 shares of the bank’s stock valued at $14,188,000 after acquiring an additional 72,392 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Peoples Bancorp by 27.8% during the third quarter. Raymond James Financial Inc. now owns 447,339 shares of the bank’s stock valued at $13,416,000 after acquiring an additional 97,391 shares during the period. 60.68% of the stock is currently owned by institutional investors.

Peoples Bancorp Company Profile

Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.

On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.